Sensex, Nifty Hold Steady In Early Trade

10/5/2017 12:03 AM ET

Indian shares opened marginally higher on Thursday after Prime Minister Narendra Modi pledged to continue reforms and take necessary steps to reverse the GDP slowdown witnessed in the last two quarters. Global cues were also positive despite further upheaval in Spain.

The benchmark BSE Sensex was up 48 points or 0.15 percent at 31,719 in early trade after rising about half a percent on Wednesday as the RBI left its key interest rates unchanged but slashed the statutory liquidity ratio (SLR) by 50 basis points to spur banks into lending more. The broader Nifty index was marginally higher at 9,915, paring early gains.

Parag Milk rallied 2.4 percent after the RBI increased FPI investment limit in the company to 40 percent from 24 percent earlier.